The famous singer Celine Dion once said, “I have become a housewife and there is no better job.” Well, she doesn’t have to clean the house, cook dinner or change diapers. There is nothing more rewarding than being able to stay home to raise your children and attend to the details of making your home look beautiful. But did you ever think about the monetary value of the duties that a housewife actually performs?
According to the Bureau of Labor Statistics (www.bls.gov), a housewife’s labor is worth upwards of $79,000 per year. The government’s labor website shows that the average annual salary of a private household cook is $28,000 (I am rounding off to the nearest thousand), a maid/housekeeper makes $18,000 and a child care worker also earns $18,000.
A financial manager earns $57 per hour. If a housewife is spending five hours per month on the financial upkeep and improvement of the family finances, the yearly pay would add up to $3000 per year. This type of financial activity includes not only balancing the bank accounts, but searching for the lowest possible insurance and mortgage rates, finding safe and profitable investments and performing research before the purchase of significant household necessities like appliances and automobiles.
According to the website Paycale.com, a business consultant with five years experience makes $45 per hour. If you figure that the average wife spends five hours a week consulting with her husband about business (they would be talking about his job or business dealings), the annual income from that job would be $12,000. If kids are involved, the mother may also fulfill the roles of taxi driver and teacher (when the kids are old enough to have extra curricular activities and homework).
Some readers might think it’s materialistic or greedy to put a price on a housewife’s work. Of course, a wife/mother does all of the above mentioned work out of a love for her family and a desire to have a happy family and a nice home. But people put a value on a homemaker’s monetary value everyday. Evaluating a wife’s work and contributions is what happens in divorce court.
When going through a divorce, a husband with a large bank account may try to undermine the value of his wife’s work (especially if she doesn’t work outside the home). If you are a housewife, it’s important to know the value of your daily contributions to your family.